Wall Street regulator sues to block Minnesota’s first-in-nation ban on prediction markets
The Commodity Futures Trading Commission (CFTC) has filed a lawsuit to block Minnesota's new law banning prediction markets. This law, signed by Governor Tim Walz, would criminalize the operation of such markets starting August 1. The CFTC argues that the law violates federal jurisdiction over derivatives markets.
- ▪Minnesota is the first state to enact a complete ban on prediction markets.
- ▪The CFTC claims that the law criminalizes lawful operators and participants in prediction markets.
- ▪The CFTC has previously sued other states to prevent enforcement actions against prediction market operators.
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Business Wall Street regulator sues to block Minnesota’s first-in-nation ban on prediction markets By Reuters Published May 19, 2026, 3:07 p.m. ET See more of our coverage in your search results. Add The New York Post on Google The Commodity Futures Trading Commission on Tuesday filed a lawsuit seeking to block Minnesota from enforcing a newly enacted law that made the state the first nationally to outright ban prediction markets like those run by Kalshi and Polymarket. The federal regulator filed the lawsuit a day after Minnesota Gov. Tim Walz, a Democrat, signed into law a measure that starting on Aug. 1 would make it a crime to operate, host or promote a prediction market in the state.
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